It would start out as a draw, but like Species 8472, the Borg can't think creatively, All they want to do is inject nanoprobes etc. While the Daleks assume they are superior to all life (much like 8472) the Borg want to consume what ever tech they can.
It will be a fight at first, but the Borg will simply keep throwing drones at the Daleks and losing them. The Daleks will win by default. IMHO

Isn't the thing about Daleks that they have never faced a credible foe, because the Doctor makes sure mankind never changes, never evolves, and never develops anything better than a 5.56mm assault rifle till the day the universe winds down? In contrast, the Borg have already faced basically every conceivable kind of foe, plus a few inconceivable ones, and persevered.

Thus, while the "infantry" in both camps wears supposedly impenetrable armor, the armor of the Borg is orders of magnitude better nevertheless. Of course, the Daleks have a very powerful anti-personnel raygun, but the Borg are accustomed to rayguns of all sorts. Funnily enough, they don't have a characteristic raygun of their own, so it remains a mystery how a Borg Drone would actually attack a Dalek warrior...

But speaking of adapting, the Daleks supposedly already know how to deal with Cybermen, while no encounter between the Borg and squat little single-person hovertanks has been reported yet.

Borg: "We are the Borg. You will be assimilated. Resistance is futile."
Dalek: "We will exterminate you! Exterminate! Exterminate!"
Borg: "Extermination is irrelevant."
Dalek: "You are irrelevant! ...B!TCH!"

The Daleks totally win this fight.

Click to expand...

FTFY.

Daleks for the win. The Borg are too well-rounded, rational and lacking in ambition, something that the universe-threatening Daleks certainly aren't. Maybe in another several thousand years...

I suppose it depends on how powerful a Dalek energy weapon is (whether or not Borg drone shields can adapt and block them) and on whether or not dalekantium (the material their shells are made of) is dense enough to block a Borg nanoprobe injection tubule.

A lot depends on how their first encounter goes. If the Borg are able to assimilate a Dalek, the knowledge gained would give them a major advantage. But if the Daleks find out how the Borg learn, then all Daleks will be ordered to self destruct immediately should the outer shell be compromised, thus preventing the Borg learning anything about them.

I can even imagine the Daleks creating dummy shells and allowing them to be assimilated as a way of spreading false information to the Borg.

Borg, easily. As others have said
(1) the Daleks can't even climb stairs
(2) they repeatedly lose to ONE GUY who's usually unarmed except for a sonic screwdriver. Verrry intimidating.
(3) the Borg "collective voice" is much scarier than the Dalek's hysterical and high-pitched whines.
(4) the Daleks don't have any ability to match the Borg's adaptation ability